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Fannie and Freddie Unveil LIBOR Replacement Plans

Friday, Dec 30 2022
Lending
Written by  The Mortgage Leader

Fannie Mae and Freddie Mac have named replacement indices for their legacy London Interbank Offered Rate (LIBOR)-based loans and securities. So reports the American Bankers Association’s Banking Journal.

Fannie Mae2 e1615570153127 585x585On July 1, 2023, the government-sponsored housing finance giants will transition from LIBOR to the Secured Overnight Financing Rate, according to their respective press releases.

Federal Housing Finance Agency Director Sandra Thompson said the announcement “represents one of the closing milestones in the transition to more robust reference rates to replace LIBOR.”

Read the full article from the American Bankers Association’s Banking Journal.

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